China Approves Disney Theme Park in Shanghai

From the New York Times: The Chinese central government has approved plans to build a Disney theme park in Shanghai:

The agreement for a Shanghai Disneyland is a landmark deal that carries enormous cultural and financial implications. Analysts estimate the initial park — not including hotels and resort infrastructure — will cost $3.5 billion, making it one of the largest-ever foreign investments in China.

The initial resort, with a mix of shopping areas, hotels and a Magic Kingdom-style theme park, will sprawl across 1,000 acres of the city’s Pudong district — with the theme park occupying about 100 of those acres. It would be a little bigger than Disneyland in Anaheim, Calif., and on par with the parks in Paris and Tokyo. It is expected to open in five or six years.

Disney’s plans are ambitious: If further development of the resort happens as expected over the coming decades — still a big if — it will encompass more than 1,700 acres and have a capacity rivaling Disney World in Florida, which attracts about 45 million annual visitors… (Disney’s chief executive Robert A. Iger) called the approval “a very significant milestone” in a statement, taking care to praise China as “one of the most dynamic, exciting and important countries in the world.” A spokeswoman declined to elaborate on details. Throwing open its doors to such a uniquely American — and permanent — entertainment experience is a milestone for China, which has aggressively protected its culture from Westernization in general and Hollywood in particular. Only 20 non-Chinese films are allowed to be shown in theaters each year, for instance, and those are often edited.